Private equity firm exits Solid Solutions

Private equity firm LDC has exited Solid Solutions, the reseller of 3D design software, to TriMech, a US-based technology and business solutions partner for designers, engineers and manufacturers.

Founded in 1998 and with headquarters in Leamington Spa, Solid Solutions is a leading independent provider of SOLIDWORKS, a 3D computer-aided design (CAD) package, and has over 16,000 customers across the UK and Ireland.

LDC backed Solid Solutions’ management team, led by CEO and Founder Alan Sampson, CTO Simon Turner and CSO Kathy Sampson in 2020.

LDC supported Solid Solutions to acquire Design Rule Limited and Desktop Engineering last year.

Over the past two years, Solid Solutions has grown revenues by more than 35%, up to £73m in its latest financial year. Today, the business employs more than 250 people and was recently rated as one of the 75 best companies to work for in the Midlands by its employees.

The transaction was led by LDC’s West Midlands team.

TriMech is a portfolio company of Sentinel Capital Partners, a US private equity firm that invests in companies with EBITDA of up to $80 million. As part of the transaction, Solid Solutions’ CEO Alan Sampson will be appointed president of TriMech’s UK and European business and the wider management team will remain in place.

Sampson said: “Rob and the rest of the team at LDC fully supported our strategy to grow our business. They encouraged us to be bold with our plans, and to act quickly and efficiently for the benefit of our customers. We could not have asked for a more supportive and engaging partner.”

Rob Schofield, Partner at LDC, said: “Our partnership with Solid Solutions is a fantastic example of how private equity investment can support a founder-owned family business to realise its growth plans. Its success is down to the hard work of the management team and its employees. This transaction finds a good home for the business and represents an excellent outcome for everyone at Solid Solutions. We wish them all the best for the future.”

LDC and Solid Solutions were advised by Alantra (corporate finance) and Gowling WLG (legal).

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